Financial statement data for the year ending December 31 for Langford Company are as follows: Net income$450,000Preferred
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Question:
Financial statement data for the year ending December 31 for Langford Company are as follows:
Net income$450,000Preferred dividends$50,000Average number of common shares outstanding80,000shares
Compute the earnings per share for the year.
a.$6.25
b.$5.63
c.$6.00
d.$5.00
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